Markets Actual Q3 Q4 Q1 Q2 2020
Currency 5.57 5.7 5.83 5.97 6.11 6.39
Stock Market (points) 95734.17 96530 94770 93050 91358 88060
Government Bond 10y (%) 15.07 15.37 15.85 16.34 16.84 17.9
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 1.30 0.5 0.6 0.7 1 1
GDP Annual Growth Rate (%) -2.60 -2 -1.2 1.2 1.5 2
Unemployment Rate (%) 12.80 16.1 14 15.1 14.5 13.4
Inflation Rate (%) 16.65 16 15.1 12.2 11.5 8.6
Inflation Rate Mom (%) 1.36 0.4 0.4 0.4 0.5 0.5
Interest Rate (%) 19.75 19.75 19 17.5 16.75 15
Balance of Trade (USD Million) -3177.27 1100 -400 800 800 1000
Current Account (USD Million) -548.00 1900 -1020 -1850 -2400 -1200
Current Account to GDP (%) -3.50 -3 -3 -3.4 -3.4 -3.4
Government Debt to GDP (%) 30.40 34.2 34.2 36.6 36.6 36.6
Government Budget (% of GDP) -2.00 -1.8 -1.8 -1.4 -1.4 -1.4
Business Confidence (Index Points) 98.30 94 97 99 100 101
Manufacturing PMI 46.70 48.9 52 52.7 53.2 53.2
Consumer Confidence (Index Points) 56.50 57 56 59 62 68
Retail Sales MoM (%) 0.30 -0.6 0.6 0.5 0.6 0.4
Corporate Tax Rate (%) 22.00 22 22 22 22 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 1.30 0.5 0.6 0.7 1 1
GDP Annual Growth Rate (%) -2.60 -2 -1.2 1.2 1.5 2
GDP (USD Billion) 766.51 758 758 765 765 765
GDP Constant Prices (TRY THO) 385221092.90 448567920 445549982 389843746 390999409 454460981
Gross Fixed Capital Formation (TRY THO) 100644723.30 123416973 119351818 101852460 102154394 121738855
GDP per capita (USD) 15026.70 15400 15400 15900 15900 15900
GDP per capita PPP (USD) 25286.60 25400 25400 26100 26100 26100
GDP From Agriculture (TRY THO) 10691613.00 53746675 24490566 10819912 10851987 24980377
GDP From Construction (TRY THO) 24255743.30 33561806 30605173 24546812 24619579 31217276
GDP From Manufacturing (TRY THO) 67156607.40 67755101 72842252 67962487 68163957 74299097
GDP From Public Administration (TRY THO) 45952228.61 42185814 44462039 46503655 46641512 45351280
GDP From Services (TRY THO) 88537213.20 103040272 105486851 89599660 89865271 107596589
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 12.80 16.1 14 15.1 14.5 13.4
Labor Force Participation Rate (%) 52.80 53.3 53.4 53.2 53.4 53.6
Long Term Unemployment Rate (%) 2.90 2.9 2.9 3 3 3.2
Youth Unemployment Rate (%) 23.30 22.6 25.1 25.5 24 24.9
Labour Costs (Index Points) 188.85 199 201 205 207 215
Minimum Wages (TRY/Month) 2558.40 2558 2558 3020 3020 3020
Wages in Manufacturing (Index Points) 183.07 189 195 195 201 215
Population (Million) 80.81 83.42 81.81 82.81 82.81 82.81
Retirement Age Women 58.00 58 58 58 58 58
Retirement Age Men 60.00 60 60 60 60 60
Wages Low Skilled (TRY/Month) 1380.00 1550 1550 1600 1600 1600
Wages High Skilled (TRY/Month) 2830.00 3100 3100 3200 3200 3200
Living Wage Family (TRY/Month) 3190.00 2950 2950 3100 3100 3100
Living Wage Individual (TRY/Month) 1930.00 1800 1800 1850 1850 1850
Employment Rate (%) 45.40 46.6 46.6 46.8 46.5 47
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 16.65 16 15.1 12.2 11.5 8.6
Inflation Rate Mom (%) 1.36 0.4 0.4 0.4 0.5 0.5
Consumer Price Index CPI (Index Points) 419.24 453 453 452 461 492
Core Consumer Prices (Index Points) 360.00 386 382 380 391 422
Core Inflation Rate (%) 16.20 14 12.5 11.8 11 10.5
Producer Prices (Index Points) 452.63 517 488 495 521 550
Producer Prices Change (%) 21.66 17.5 15.5 14.7 14 12.5
Food Inflation (%) 18.21 17.5 15.4 12.9 12.4 11.5
Cpi Housing Utilities (Index Points) 448.94 492 511 484 486 554
CPI Transportation (Index Points) 417.97 486 436 432 446 474
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 19.75 19.75 19 17.5 16.75 15
Interbank Rate (%) 16.40 20.5 20.5 19 18.25 17
Money Supply M1 (TRY Thousand) 602757832.40 645000000 659000000 659000000 685000000 816000000
Money Supply M2 (TRY Thousand) 2178802052.40 2211000000 2270000000 2380000000 2450000000 2637000000
Loans to Private Sector (TRY Thousand) 1285917846.00 1335574029 1200362046 1301062334 1314333564 1224369287
Deposit Interest Rate (%) 18.25 18.25 18.25 16.75 16 14.75
Private Debt to GDP (%) 170.20 179 179 182 182 182
Lending Rate (%) 21.25 21.25 21.25 19.75 19 17.75
Central Bank Balance Sheet (TRY Thousand) 745587535.00 841000000 887000000 945000000 1050000000 1225000000
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Million) -3177.27 1100 -400 800 800 1000
Current Account (USD Million) -548.00 1900 -1020 -1850 -2400 -1200
Current Account to GDP (%) -3.50 -3 -3 -3.4 -3.4 -3.4
Imports (USD Million) 14259.10 14500 14600 17100 16900 17400
Exports (USD Million) 11081.83 15600 14200 17900 16200 18400
External Debt (USD Million) 453423.00 439483 439539 458864 460224 448330
Foreign Direct Investment (USD Million) 13200.00 14000 14000 15100 15100 15100
Tourism Revenues (USD Million) 3338.00 14600 10150 4950 8900 10600
Tourist Arrivals 5318984.00 4264000 1920000 2360000 4862000 2010000
Crude Oil Production (BBL/D/1K) 56.00 50 50 50 50 50
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 30.40 34.2 34.2 36.6 36.6 36.6
Government Budget (% of GDP) -2.00 -1.8 -1.8 -1.4 -1.4 -1.4
Government Spending (TRY THO) 57997834.60 57037776 68661125 58693809 58867802 70034347
Government Debt (TRY Million) 1219800.00 1370000 1450000 1520000 1580000 1710000
Taxes Actual Q3 Q4 Q1 Q2 2020
Corporate Tax Rate (%) 22.00 22 22 22 22 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 18.00 18 18 18 18 18
Social Security Rate (%) 37.50 37.5 37.5 37.5 37.5 37.5
Social Security Rate For Companies (%) 22.50 22.5 22.5 22.5 22.5 22.5
Social Security Rate For Employees (%) 15.00 15 15 15 15 15
Business Actual Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 98.30 94 97 99 100 101
Manufacturing PMI 46.70 48.9 52 52.7 53.2 53.2
Industrial Production (%) -3.90 1.5 2.9 2.7 2.8 2.8
Industrial Production Mom (%) -3.71 -0.3 0.6 0.6 0.5 0.5
Manufacturing Production (%) -4.60 1.8 2.5 2.6 3 2.7
Bankruptcies (Companies) 756.00 1000 2250 1050 920 2050
Total Vehicle Sales 17927.00 69930 75000 68500 46800 79000
Car Production (Units) 109116.00 128200 119700 145900 128100 125400
Car Registrations 41915.00 75980 51000 87500 60900 59000
Leading Economic Index (%) 2.43 -2 1 1.2 1.5 2
Steel Production (Thousand Tonnes) 2697.69 2800 2600 2600 2850 2730
Mining Production (%) 4.80 0.1 0.7 1.5 1.4 2
Electricity Production (Gigawatt-hour) 24040.00 24400 24200 24200 23000 24700
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) 56.50 57 56 59 62 68
Retail Sales MoM (%) 0.30 -0.6 0.6 0.5 0.6 0.4
Retail Sales YoY (%) -3.70 1.1 2.5 2.3 2.8 2.7
Consumer Spending (TRY THO) 236727780.80 264320131 254212295 239568514 240278698 259296540
Consumer Credit (TRY THO) 528198574.00 517926443 509429307 525351149 534298283 519617893
Private Sector Credit (TRY Thousand) 1984463071.00 2013375508 1867788684 2002324972 2018331975 1905144458
Economic Optimism Index (Index points) 80.70 75 79 81 84 88
Gasoline Prices (USD/Liter) 1.26 1.23 1.2 1.16 1.13 1.13
Housing Actual Q3 Q4 Q1 Q2 2020
Housing Index (Index points) 110.30 112 115 117 119 122
New Home Sales (Units) 33765.00 65100 60000 45800 54200 61400
Building Permits 33158.00 58400 70000 45200 64200 75000
Existing Home Sales (Units) 48487.00 71400 62300 56500 59800 69500
Housing Starts (units) 4365.00 7300 8300 6200 7800 9600
Home Ownership Rate (%) 59.70 60.5 60.5 60 60 60


This page has economic forecasts for Turkey including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Turkey economy.